West Palm Beach, Fla., rehired Empower Retirement as bundled provider of its $116 million 401(a) plan and $33 million 457 plan, said Mark Parks, city finance director.
The city issued an invitation to bid in July 2017 for bundled provider services. Other finalists were ICMA-RC, MassMutual Financial, Prudential Financial, TIAA-CREF, VALIC and Voya Financial.
Investment consultant AndCo Consulting assisted.
The city commission at its Feb. 12 meeting approved the recommendations of the plans' advisory committee.
